x axis is the quanity of chicken sandwhiches

The market for chicken sandwiches in ChikfilPopeyeland is monopolistically competitive and in long-run equilibrium. One day, consumer advocate BigBird discovers that all chicken sandwiches in ChikfilPopeyeland are identical. Thereafter, the market becomes perfectly competitive and again reaches long-run equilibrium.

The chart shows the graph for a typical firm in the industry - the Marginal Cost and Average Total Cost as well as the Demand and Marginal Revenue curves when the firm was in Monopolistic Competition and the firm's Demand curve under monopolistic competition.

Use letters to answer this and the following questions about this chart. What price did the firm charge under monopolistic competition?

What quantity did the firm sell under monopolistic competition?

What was the firm's marginal cost under perfect competition?

What quantity did the firm sell under perfect competition?

What was the firm's marginal cost under monopolistic competition?

What price did the firm charge under perfect competition?

What was the firm's profit under perfect competition (use a combination of letters or a number)?

What was the firm's profit under monopolistic competition (use a combination of letters or a number)?

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